In July, housing affordability continued its decline as year-over-year nominal house price appreciation reached a record 20 percent, vastly outpacing the increase in house-buying power compared with a year ago. The Real House Price Index (RHPI) measures affordability in the context of changes in consumer house-buying power, incorporating changes ... Read More ›

In this episode of the REconomy Podcast™ from First American, Chief Economist Mark Fleming and Deputy Chief Economist Odeta Kushi explain why important labor market trends may influence the Federal Reserve’s decision to reverse its easy-money policies. Read More ›

Housing market potential continued to strengthen in August, according to our Potential Home Sales Model, increasing 0.05 percent compared with July. The market potential for existing-home sales is now nearly 10 percent higher than in August of 2020, when the housing market’s summer rebound was ramping up following the initial pandemic-driven ... Read More ›

The Real House Price Index (RHPI) measures affordability in the context of changes in consumer house-buying power, incorporating fluctuations in household income, mortgage rates and nominal house prices. In June, housing affordability declined on a year-over-year basis for the fourth month in a row, following two years of increasing affordability. ... Read More ›

Housing market potential strengthened in July, according to our Potential Home Sales Model, increasing 1.3 percent compared with June. It is now nearly 16 percent higher than in July of last year, when the housing market’s summer rebound began, following the initial pandemic-driven decline in the spring. Read More ›

Housing affordability declined on a year-over-year basis for the third month in a row in May, following a two-year streak of rising affordability. The decline in May occurred even as two of the three key drivers of the Real House Price Index (RHPI), household income and mortgage rates, swung in favor of greater affordability relative to one year ... Read More ›